September, 2022

• 3 September

  Mikhail Gorbachev defied convention in Cold War

    Mikhail Gorbachev, who died on Tuesday at 91, defied convention in ways small and large throughout some of the most tumultuous years of the Cold War. He failed in his most basic ambitions. But the world was better for them all the same. Born to peasants in a rural village that had been ravaged by collectivization, Gorbachev grasped the ...

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• 3 September

  O’Hare sells $1.8bn of debt in year’s biggest airport deal

  

    Bloomberg Chicago has sold the largest municipal airport transaction this year amid swirling volatility in fixed-income markets, pricing $1.8 billion of debt that will partially fund improvements at O’Hare International Airport. The $1.1 billion Series 2022A includes bonds due in January 2031 which priced with a 5% coupon and 3.69% yield, while debt due 2055 with a 5% coupon ...

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• 3 September

  John Lewis to recruit 10,000 temporary UK staff for Christmas

  

    Bloomberg John Lewis Partnership Plc is hiring more than 10,000 temporary workers across the UK to meet demand over the crucial Christmas period. That’s 3,000 more than the department store chain hired in its festive push last year and all employees will receive free food from October to January to help with the higher cost of living, the retailer ...

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• 3 September

  US gets warrant to seize Boeing 737 owned by Russia’s Lukoil

  

    Bloomberg The US government is seeking to seize a Boeing 737 aircraft owned by Russian oil company Lukoil PJSC for allegedly violating sanctions imposed on Moscow after the invasion of Ukraine. The Justice Department announced it had obtained a warrant to seize the aircraft, which is valued at $45 million and bears the tail number VP-CLR. The aircraft “flew ...

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• 3 September

  Cathay Pacific warns of weaker air cargo demand

  

    Bloomberg Cathay Pacific Airways Ltd., one of the world’s biggest airfreight operators, warned that inflation, supply-chain snags and Covid-19 restrictions in China could lead to weaker cargo demand in this year’s peak season. “Inflation is having an impact on some areas of consumer demand, the supply chain disruption of recent months has dampened manufacturing output, and there continue to ...

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• 3 September

  3M to cut jobs in cost-cutting push

    Bloomberg 3M Co. plans to eliminate jobs as part of a broader cost-cutting drive in response to the slowing economy, according to internal communications. The move comes just days after 3M suffered a setback over a key legal strategy designed to mitigate mounting liabilities and as it faces an array of other challenges, ranging from inflationary woes to sluggish ...

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• 3 September

  Glow Recipe taps Goldman Sachs for sale

    Bloomberg Glow Recipe, a skin-care brand popular for its fruit-based products, is exploring a sale that could value it at $400 million to $500 million. The company is working with Goldman Sachs Group Inc., said the people, who asked to not be identified. It has $80 million in annual revenue. No final decision has been made and Glow Recipe ...

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• 3 September

  China pushes back line US drew to keep peace in Taiwan Strait

  

    Bloomberg China has sent warplanes across the Taiwan Strait’s so-called median line almost daily since House Speaker Nancy Pelosi’s visit last month, shrinking a buffer zone that has helped keep the peace for decades. An average of 10 Chinese aircraft have crossed the US-drawn boundary every day since Aug. 3, when Pelosi became the first House speaker to visit ...

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• 3 September

  Afghan mosque blast kills 18 including pro-Taliban cleric

    Bloomberg Eighteen Afghans were killed and dozens were wounded as a blast ripped through a mosque in Afghanistan’s western Herat province, the latest in a series of attacks on worshipers. The explosion went off as one of the people at the mosque stepped forward to greet pro-Taliban cleric, Mujib Rahman Ansari, before the Friday prayers, Mahmoud Shah Rassouli, a ...

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• 3 September

  IAEA team stays on at besieged atomic plant to probe damage

    Bloomberg International monitors remaining at a Russian-occupied atomic plant in Ukraine are staying in order to independently evaluate how continued military attacks against the facility risk a nuclear accident. International Atomic Energy Agency inspectors arrived at the Zaporizhzhia Nuclear Power Plant after a harrowing journey across the frontline separating Ukrainian and Russian forces. The sounds of heavy machine-gun fire, ...

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